« Previous | Contents | Next »
Listen
A7. ASSET MANAGEMENT
A7.1 Register of assets
A7.1.1 The SCRA shall maintain an accurate and up-to-date register of its assets.
A7.2 Management and disposal of assets
A7.2.1 The SCRA shall at all times use its assets in the most cost-efficient manner, and dispose of those assets which are surplus to requirements. In order to facilitate the management of its capital and revenue expenditure on property the SCRA shall develop and maintain an Asset Management Plan to support its Property Strategy. Assets shall wherever practicable be sold by auction or competitive tender unless otherwise agreed by the sponsor Department.
A7.2.2 Subject to its delegated limits, the SCRA shall not without the sponsor Department's agreement dispose of any assets which have been purchased with (or improved or developed by) Exchequer funds. Where the Exchequer's due share from the disposal of such assets amounts to more than £1 million (or where the disposal has unusual features of which the Scottish Parliament should be aware) the receipts should be surrendered to the sponsor Department. See paragraph A7.2.4 below for details of receipts of less than £1 million.
A7.2.3 If the sponsor Department decides that the SCRA should have the benefit of these receipts the sponsor Department may seek to appropriate them in aid of a relevant increase in the grant in aid, for which it will obtain the Scottish Parliament's approval.
A7.2.4 If the sponsor Department decides that the receipts are to be retained by the sponsor Department then the income not applied should be surrendered to the Scottish Consolidated Fund. Where the Exchequer's share is less than £1 million the receipts should be dealt with in line with the rules on surplus in-year receipts ( see para A2.4.2).
A7.3 Recovery of grant-financed assets
A7.3.1 Where the SCRA has financed expenditure on capital assets by third parties, the SCRA should make appropriate arrangements to ensure that assets are not disposed of without the SCRA's prior consent.
A7.3.2 The SCRA shall therefore ensure that such repayment conditions are sufficient to secure the repayment of the Exchequer's due share of the proceeds of the sale, in order that funds may be surrendered to the sponsor Department.
A7.3.3 The SCRA shall ensure that if the assets created by any grants made by the SCRA cease to be used by the recipient of the grant for the intended purpose, a proper proportion of the value of the asset shall be repaid to the SCRA for surrender to the sponsor Department.
A7.3.4 The amounts recoverable under the procedures in paras A7.3.2 and A7.3.3 shall be calculated by reference to the current market value of the asset and in proportion to the Exchequer's original investment(s) in the asset.
« Previous | Contents | Next »